Saudi Marketing Co. (Farm Superstores) reported a rise of 16% in net profit to SAR 18.7 million in the first nine months of 2023 from SAR 16.1 million a year earlier.
| Item | 9m 2022 | 9m 2023 | Change |
|---|---|---|---|
| Revenues | 1,321.68 | 1,358.42 | 2.8 % |
| Gross Income | 378.82 | 409.77 | 8.2 % |
| Operating Income | 42.51 | 56.56 | 33.0 % |
| Net Income | 16.08 | 18.72 | 16.5 % |
| Average Shares | 45.00 | 45.00 | - |
| EPS (Riyals) | 0.36 | 0.42 | 16.5 % |
The nine-month revenue grew by SAR 36.7 million.
| Item | Q3 2022 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 430.48 | 429.26 | (0.3 %) |
| Gross Income | 129.57 | 138.64 | 7.0 % |
| Operating Income | 13.66 | 17.08 | 25.0 % |
| Net Income | 4.52 | 4.89 | 8.1 % |
| Average Shares | 45.00 | 45.00 | - |
| EPS (Riyals) | 0.10 | 0.11 | 8.1 % |
| Item | Q2 2023 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 449.22 | 429.26 | (4.4 %) |
| Gross Income | 134.24 | 138.64 | 3.3 % |
| Operating Income | 19.02 | 17.08 | (10.2 %) |
| Net Income | 6.39 | 4.89 | (23.5 %) |
| Average Shares | 45.00 | 45.00 | - |
| EPS (Riyals) | 0.14 | 0.11 | (23.5 %) |
In Q3 2023, the company recorded a net profit of SAR 4.9 million, an increase of 8% from SAR 4.5 million in the year-earlier period.
The third-quarter bottom line fell by 23.5% from SAR 6.3 million in Q2 2023 as revenue decreased by SAR 20 million due to the summer vacation.
Total shareholders’ equity, after minority interest, stood at SAR 655.17 million as of Sept. 30, 2023, up from SAR 650.89 million in the prior-year period.
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